Embassy Developments Limited (NSE: EMBDL / BSE: 532832) announced the award of a major construction contract valued at over ₹850 crore to Leighton Asia, part of the CIMIC Group, for its Embassy Citadel ultra-luxury residential development in Worli, Mumbai. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015.
The contract covers the complete civil and structural works package for Embassy Citadel, which represents the company's strategic expansion into Mumbai's residential market. The project is located on Dr. Elijah Moses Road in Worli.
Project Specifications
- Total development area: Approximately 1.6 million square feet
- Estimated gross development value: Approximately ₹8,800 crore
- Residential units: 316 residences across 3, 4, and 5 bedroom configurations, plus two exclusive triplex mansion homes
- Amenities: Approximately 1 lakh square feet across seven lifestyle floors
- Special feature: 79th-floor Sky Lounge
- Building height: Approximately 300 meters (single-tower development)
Design and Consultant Team
The project has been designed in collaboration with an internationally acclaimed consultant team including:
- ADA Architecture (Mumbai)
- STX Landscape Architects (Singapore)
- Studio HBA (Singapore and Hong Kong)
- Thornton Tomasetti (New York)
Management Commentary
Juan Santamaría, ACS Group and HOCHTIEF Chief Executive Officer and CIMIC Group Executive Chairman, stated that the award demonstrates the Group's capability in delivering high-rise residential developments in India, emphasizing their experience in complex urban environments and commitment to safety, quality, and reliable delivery.
Parag Saraiya, Chief Operating Officer – North & West of Embassy Developments Ltd., emphasized that Embassy Citadel is conceived as a new benchmark for luxury living in Mumbai with strong emphasis on engineering, precision, safety, and construction quality. He noted that Leighton Asia brings deep global expertise in complex high-rise developments and proven operational excellence.
Company Background
Embassy Developments Limited (formerly Equinox India Developments Limited and earlier Indiabulls Real Estate Limited) is one of India's largest listed real estate developers specializing in residential and commercial projects across key urban markets including Bengaluru, Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Chennai, and Indore. The company holds a long-term debt rating of IVR A- (Stable) from Infomerics.
Disclaimer Note
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